South Korean KT Corporation Has Introduced Its Proprietary Blockchain

South Korean KT Corporation Has Introduced Its Proprietary Blockchain

KT Corporation, one of the two biggest telecoms organizations in South Korea, has created its own blockchain network expecting to spread the innovation crosswise over areas including ID confirmation, data roaming, and energy exchange.

Increasing Transactions Speed

The firm announced its KT Network Blockchain on Tuesday, naming a throughput of 2,500 exchanges per second (TPS) due to reconciliation with the existent high-speed network. Additionally, the organization asserts it can speed up to 10,000 TPS before the year is over and to as high as 100,000 TPS by 2019.

Blockchain to Facilitate Literally Everything

With the announcement, KT said it is currently hoping to utilize the innovation to confirm clients' identities to streamline global roaming services. The component would enable users’ data to be safely shared over a distributed network between international partners.

At the beginning, the telco said it will collaborate with China Mobile and Japanese mobile operator NTT DoCoMo to begin investigating the technology in global data throughout the year. KT Network Blockchain is going to participate in energy exchange at the end of the year, with enterprises taking part as nodes to trade unused energy quotas over the distributed network.

Rewarding People For Their Data

In April KT announced its plan to utilize another media communications framework incorporated with blockchain security solutions as a part of a digital infrastructure venture named "Future Internet", allowing users to get rewarded for using their own data instead of monopolists like Google.

 

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